Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
Thanks for the answer.
What can the courts do to the transfer while the transfer is taking place?
In the extreme case, if the transfer cannot take place in time, can I ex-wife sue for the houses, since it was given to her in a court order.
My business partner & I are still current on our bills.
It is too early for us to file bankruptcy, since we cannot meet the coming mortgages?
Regarding the transfer to my Ex-Wife, I went to a title company and signed over the property to her.
Is it correct that the day that it gets recorded with the county, is the day that the property belongs to my ex-wife.
Or does she have to wait until she gets the deed back in the mail with her name in it?
Can the bankruptcy "Stay" change the recording once the transfer is recorded with the county?
My can accept personal bankruptcy for myself.
I am concerned that my bankruptcy filing will effect my Ex-wife & child's housing.
After the transfer is completed, can the trustee challenge my divorce and reverse the property transfers.
I owe 6 properties and in the settlement, I gave her four.
In return, I do not pay any living support for her, but do pay for my child.
I kept my two cars and three businesses, and retirement account.
the trustee can only challenge the divorce court orders if the trustee believes that the property transfers were done in bad faith. They are looking to see if you transferred the properties to her illegally or to avoid the trustee from taking them in preparation for bankruptcy. That does not appear to be the case here. It sounds like you gave her proper settlement in the divorce and therefore she has a legal claim to keep the property. Also, the court order from the family court judge will support her position that the properties are neither yours nor the bankruptcy trustee's property. NY permits an equitable distribution of assets. It does not require a 50/50 split. So if the divorce court judge thought it was equitable, the trustee will have a difficult time claiming that it was not. Make sure to retain a qualified bankruptcy attorney when you file who fully understands bankruptcy law. I hope my answer has assisted you and you will provide me a positive rating!
Just one more question referring to the case mentioned above.
I am just concerned about the house that she lives in now with my child.
The other properties do not really matter.
Somehow, if the trustee reversed the transfer, can they force my ex-wife to sell the house, so they can take the 1/2 that I own.
What are my options?
Before, the divorce, New York house, which is her main house, was a 50/50 ownership.
The bankruptcy filing will be in Pennsylvania.
I am just concerned since my bankruptcy filing is only 1-2 months from the property transfer.
Also, we had a quick divorce with no lawyers involved.
We just paid someone to do the court filing for us.
We just wrote down what we would accept on the settlement.
I mainly wanted my business, which I had for almost 14 years.
It looks so bad on paper.
My website business dropped alot due to the Google algorithm upgrade during the middle of the year.
Regarding the divorce settlement, in terms of equity on the properties, I got more then her based on the purchase price less the debt of the 7 properties.
But, I did get more debt also due to the mortgages.
wow...reference to your first sentence,
If they dismiss my bankruptcy, they will not sell or take anything, and just charge me with a crime?
How often does criminally charge someone for bankruptcy fraud happen?
I did speak to 3 local bankruptcy lawyers, 2 in PA, and one in NY, and they said the split was fair.
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